Financial Sector Update for 03.29.2008

SELECT SECTOR SPDR FINANCIAL SECTOR ETF - XLF

Monthly chart shows continued weakness. No buy signal/pattern evident on this timeframe.

Weekly chart shows selling pressure came back into sector, with price now below all key moving averages and also the down trendline in place. Look for test of the current low as likely.

Daily chart shows the bulls were unable to take the market higher, as they were overcome with selling pressure into the close of trading for the week. Look for a test of the lower and then a new low.